SAN FRANCISCO (MarketWatch) -- Akamai Technologies Inc. AKAM shares plunged by more than 18% Thursday, to $33.91, as investors slammed the Internet content-delivery technology company for its disappointing revenue results and outlook. Late Wednesday, Akamai said it earned 54 cents a share, on $378 million in revenue, while analysts had forecast the company to earn 50 cents a share on $381 million in sales. Analysts at Janney Capital Markets and Jefferies cut their ratings on Akamai's stock following the results. For its first quarter, Akamai said it expects to earn 50 cents to 52 cents a share, on revenue in a range of $352 million to $362 million. Analysts surveyed by Thomson Reuters had previously forecast Akamai to earn 47 cents a share on $370.1 million in sales for the quarter.
|PULSE: Groupon shares plunge on outlook, ratings cuts (2013/2/28)|
|PULSE: BlackBerry shares rise; RBC ups BB10 forecast (2013/4/29)|
|PULSE: Akamai soars on J.P. Morgan upgrade, results (2013/4/25)|
|PULSE: Akamai profit, sales rise, beating expectations (2013/4/24)|
|PULSE: Akamai, F5 boost tech stocks; Qualcomm, Zynga fall (2013/4/25)|
|PULSE: Coinstar shares fall after-hours on weak forecast (2013/2/7)|
|PULSE: Harvest Natural plunges 40% after accounting error (2013/3/19)|
|Greece's Eurobank, National Bank Shares Plunge (2013/4/8)|
|PULSE: Zynga shares drop over 9% in wake of forecast (2013/4/25)|
|PULSE: Ruckus Wireless shares plunge on report, outlook (2013/5/7)|
|Start Premium Trial||Register For Free|
|P||F||Fund Financial Data (13,000+ funds)|
|P||F||Stock Financial Data (7,000+ stocks)|
|P||F||Stock and Fund Screeners (basic)|
|P||F||Investing Articles and Market Commentary|
|P||F||Articles Archive (>30 days)|
|P||F||Discuss (dozens of stock, fund, bond, and general bulletin boards)|
|P||F||Portfolio Manager (basic)|
|P||F||Morningstar Investment Classroom|
|P||F||Morningstar Investing Classroom Rewards (earn as you learn and redeem for Morningstar merchandise)|
|P||Morningstar Fund Analyst Reports (full research on 2,000 funds and ETFs)|
|P||Morningstar Stock Analyst Reports (full research on 2,000 stocks)|
|P||Morningstar Stock and Fund Stewardship Grades|
|P||Portfolio Manager (advanced with 10 x-ray analyses, including guidance)|
|P||Portfolio Monitor (monthly and on-demand personalized portfolio statements)|
|P||Morningstar Proprietary Stock Information (stock star ratings, buy/sell prices, economic moat ratings, and more)|
|P||Morningstar Stock and Fund Favorites & Red Flags eNewsletters|
|P||Premium Stock and Fund Screeners (advanced with nearly infinite ways to find the best securities for you)|
|P||Discounts on Morningstar newsletters, books, seminars, and more|
Access these features and more when you sign up for Free Membership.
Join Morningstar today. It's Free.
Access these features and more when you sign up for Premium Membership.
Start your free 14-day trial today online
Your subscription may be tax deductible. Please contact your tax advisor.